2016-02-24

Immunovia Year-end report 2015

"In 2015 Immunovia took important steps toward commercialisation of the world’s first blood-based test for cancer diagnosis, IMMray™ PanCan –d. We were able to prove, with 96% accuracy, that our test can diagnose the early stages of pancreatic cancer. In the second half of the year we signed a comprehensive agreement with Knight Cancer Institute at Oregon Health & Science University, USA, which during the year received a donation of USD 1 billion to achieve radical changes in cancer care globally through a focus on early diagnosis. Cooperation with Knight Cancer Institute will be decisive for the forthcoming market launch of our test, and furthermore, it will through joint research projects increase our pipeline of tests for other forms of cancer. At the start of 2016 we announced two further collaborations, one with the University of Liverpool, UK, and one with Mount Sinai Cancer Center, USA, which together with Knight Cancer Institute will be involved in a prospective validation of IMMray™ PanCan –d. This study will start in the second half of 2016 and run for three years, in parallel with the sales start in 2017 to out-of-pocket customers. Revenue streams are expected to start in 2018.

In 2016 we will conclude quality assurance at our laboratory in Lund, Sweden, and apply for ISO accreditation. Once this is approved we will be able to receive tests from throughout Europe for early diagnosis of pancreas cancer and we are already in discussions with several prospective customers, i.e. cancer centres and laboratories.

In December 2015 Immunovia was listed on Nasdaq First North in Stockholm and in connection with this listing raised SEK 60 million through a new share issue. Together with the SEK 40 million the company received in the form of a grant from the EU in May, the company now has the financial stability for the market launch of IMMray™ PanCan –d."  
Mats Grahn, CEO Immunovia AB

Key indicators
SEK 000 unless otherwise stated 1 July-31 Dec. 2015 1 July-31 Dec. 2014 Full year 2015 Full year 2014
Net sales 147 256 205 359
Operating earnings -3 588 -6 124 -7 424 -8 959
Earnings before tax -3 577 -6 023 -7 384 -8 859
Net earnings -3 577 -6 023 -7 384 -8 859
Earnings per share before dilution (SEK/share) -0,30 -0,55 -0,65 -0,99
Earnings per share after dilution (SEK/share) -0,29 -0,52 -0,62 -0,93

Outlook*

Immunovia is focused on fundamentally transforming the diagnosis of complex forms of cancer and autoimmune diseases. The antibody-based platform, IMMray™, is the result of 15 years of research at CREATE Health – the Center for Translational Cancer Research at Lund University, Sweden. IMMray™ is a technology platform for the development of diagnostic tests, and the company’s primary test IMMray™ PanCan-d is the first test in the world for early diagnosis of pancreatic cancer.

It is planned to launch IMMray™ PanCan-d on the American and European markets with sales start in 2017 to out-of-pocket customers, with revenues expected to begin in 2018. In coming years Immunovia will address a market that in total is worth around SEK 30 billion.

Immunovia sees great potential in the development of tests for other unsolved problems in cancer and autoimmune diseases via its IMMray™ platform. The next focus area will be tests within SLE.

* No changes compared with the Prospectus dated 30 October 2015 that was concerned with the new issue of shares in connection with the listing on the First North exchange.

For further information, please contact:
Mats Grahn, CEO, Immunovia AB
Phone: +46 (0) 70-532 02 30
E-mail: mats.grahn@immunovia.com

See also the company’s website: www.immunovia.com